Create a Password Reset Disk

Microsoft has enhanced security features in XP including the the ability to create a floppy diskette to recover your password incase it is forgotten. 
Click Start 
Click Control Panel 
Click User Accounts 
Click on the account which you want to create a password disk 
Click Prevent a forgotten password which starts the Forgotten Password Wizard . This is found under Related Tasks 
Insert a blank, formatted disk into drive A, and click Next 
Enter the password in the Current user account password box 
To use the recovery disk, at the Welcome screen 
Click the user name whose password is on the recovery disk 
Click the question mark button 
This causes the Did you forget your password message to appear. 
Click use your password reset disk 
This will start the Password Reset Wizard. 
From this point, just follow the wizard's instructions and you will be able to set a new password. It is different if you are part of a domain, see next tip.